Moelis & Company (NYSE:MC) Director Kenneth Shropshire Sells 1,881 Shares of Stock

Moelis & Company (NYSE:MC) Director Kenneth Shropshire sold 1,881 shares of the business’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $69.06, for a total value of $129,901.86. Following the completion of the sale, the director owned 7,633 shares in the company, valued at $527,134.98. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Moelis & Company Stock Down 0.5%

Shares of MC stock opened at $68.04 on Tuesday. The stock has a market capitalization of $5.33 billion, a PE ratio of 23.71, a P/E/G ratio of 0.90 and a beta of 1.84. Moelis & Company has a 52 week low of $51.06 and a 52 week high of $78.22. The firm has a 50 day moving average of $67.17 and a two-hundred day moving average of $64.34.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.62 by $0.01. The firm had revenue of $409.39 million for the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a return on equity of 39.59% and a net margin of 14.50%.Moelis & Company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.53 earnings per share. Analysts expect that Moelis & Company will post 3.09 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Monday, August 10th will be given a $0.65 dividend. The ex-dividend date is Monday, August 10th. This represents a $2.60 annualized dividend and a yield of 3.8%. Moelis & Company’s dividend payout ratio is 90.59%.

Institutional Trading of Moelis & Company

Institutional investors and hedge funds have recently modified their holdings of the business. California State Teachers Retirement System raised its holdings in shares of Moelis & Company by 6,263.4% in the second quarter. California State Teachers Retirement System now owns 5,592,625 shares of the asset manager’s stock worth $365,870,000 after acquiring an additional 5,504,738 shares during the last quarter. Madison Asset Management LLC acquired a new stake in shares of Moelis & Company during the second quarter valued at $109,065,000. Balyasny Asset Management L.P. acquired a new stake in shares of Moelis & Company during the fourth quarter valued at $60,857,000. Norges Bank purchased a new stake in Moelis & Company during the 4th quarter worth about $42,919,000. Finally, The Manufacturers Life Insurance Company increased its position in Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock worth $41,231,000 after purchasing an additional 609,162 shares in the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Analyst Ratings Changes

MC has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a research note on Friday, July 10th. UBS Group restated a “sell” rating and set a $60.00 price target (up from $58.00) on shares of Moelis & Company in a research note on Wednesday, July 8th. Wall Street Zen raised Moelis & Company from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley boosted their price objective on shares of Moelis & Company from $83.00 to $85.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $73.62.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.